Atlantic University

Nonprofit profile at a glance

EIN
540784341
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Virginia Beach, VA, USA
Phone
7576318101
Rating
87
Verdict
STRONG
Rating confidence
Standard
Sector
University or Technological Institute

Official website

Reported finances

Revenue
$275,799
Expenses
$386,016
Assets
$1,079,498
Liabilities
$745,560

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

21 people listed

Executive titles in this filing

  • NICOLE CHARLES (EXECUTIVE DIRECTOR/CEO (RETIRED))

Highest reported compensation

  • NICOLE CHARLES (EXECUTIVE DIRECTOR/CEO (RETIRED)): $162,894 total reported compensation
  • MICHELLE MCNEAR (DIRECTOR - DEAN): $110,863 total reported compensation
  • CASSIE MCQUAGGE (CO-EXECUTIVE INTERIM DIRECTOR): $109,274 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Atlantic university's mission is to provide a high-quality graduate-level distance education for adult learners that integrates body, mind, and spirit to help people achieve higher human potential and transform their lives, better understand their relationship to all life, and be of profound service to others.

What it reported doing in 2024

Atlantic university had a steady 2024 academic year, meeting budgets and enrollment expectations. Recruitment and retention remained strong. Numerous courses were updated and improved and new faculty were recruited. Outcomes assessments continue to provide evidence of students achieving learning outcomes.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 98
  • Transparency & Controls: 80
  • Accountability: 100
  • Sustainability: 25
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.8%; rating input score 99
  • Fundraising efficiency: $113.92 raised per $1 spent on fundraising; rating input score 87; 87th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 22nd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: No; rating input score 0

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -40%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 2.8; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 0.69; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 38.6%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: 1.7% per year; rating input score 100; 38th percentile among comparable filings
  • Revenue growth: -1.1% per year; rating input score 0; 19th percentile among comparable filings
  • Asset growth: 8.8% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.8% of spending went to programs
  • Governance: 14 of 14 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $381K in reported program spending
  • Leadership: top reported pay $163K · 21 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 19 of 20 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 7/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 7/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.